Updated Dec 4, 2023
Union Home Loan Acquires Mixed-Use Property On San Benancio Road In Salinas For $1.065M
350 San Benancio Rd Salinas, CA 93908, USA
$1,065,000
$124/SF
Building Size
8,580 SF
Asset Type
Mixed-use
Closing
Sep 8, 2023
About this deal
AI
Located at 350 San Benancio Road in Salinas, this mixed-use property spans 8,580 square feet. The asset consists of a horse ranch facility and a single-family residence, offering versatile opportunities for potential buyers.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,065,000
- Date: 09/08/2023
- Address: 350 San Benancio Road
- Market: Salinas
- Asset Size: 8,580 square feet
The loan for this property was secured through Union Home Loan, Inc. The lender provided a bridge loan with a 24-month term. This financing option was specifically tailored for the horse ranch facility and mixed-use single-family residence. In this transaction, Jennifer Lopez of United Finance & Investments Inc represented the borrower as the broker. Working closely with the lender, Lopez facilitated the loan process effectively to meet the client's needs.
Players
Market Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
14.89%
Cash-on-Cash
-4.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93